Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SUBMIT
Crypto Flexs
Home»BLOCKCHAIN NEWS»Shiba Inu’s CoinBurn again sparks debate over price fluctuations
BLOCKCHAIN NEWS

Shiba Inu’s CoinBurn again sparks debate over price fluctuations

By Crypto FlexsNovember 24, 20232 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Shiba Inu’s CoinBurn again sparks debate over price fluctuations
Share
Facebook Twitter LinkedIn Pinterest Email

The most recent events in the SHIB ecosystem, particularly the mass burning of Shiba Inu tokens, have raised concerns in the cryptocurrency community. Nonetheless, the impact of this burn on the price of SHIB has been a topic of discussion among investors and followers.

Shiba Inu rally begins due to major token burning event

Ethereum’s famous meme coin, Shiba Inu, held a major token burn event last week on November 21, which has certainly brought interest back into the world of digital currencies. While the market has been volatile, the SHIB community has been engaging in intentional coin burnings to reduce circulating supply, and the reality is that this is the best way to go.

Shibburn, a platform that tracks SHIB token burns, recorded an impressive 47,872% increase in tokens burned over the past 24 hours, ending with 28.12 million SHIB tokens.

Determine the impact of token burn on the market price of SHIB

This aggressive method of burning SHIB tokens to inflate the value of SHIB through scarcity has sparked an interesting market reaction. One of the wallets, 0x74dceef… 665 burned approximately 27,120,000 SHIB tokens. Through this, the community-led initiative burned over 410 billion SHIB tokens.

As a result, the latter was trading at $0.000008323, down 4%, contrary to expectations for Shiba Inu’s price movement. What is noteworthy is that SHIB’s 24-hour trading volume surged, reaching $145.86 million. This represents an increase of almost 36.38% over the past day and is probably a breakout point based on the cryptocurrency market situation earlier today. Large-scale burning activity hinting at a bullish trend in SHIB prices may have revealed a more complex market reaction considering the recent price decline. Many cryptocurrencies are left wondering how token burning actually affects their value.

Post views: 4

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

The $19 billion cryptocurrency collapse: A catalyst for Bitcoin to reach $200,000 by 2025: Standard Chartered

October 25, 2025

DAOs are redefining corporations, but the law is not yet ready.

October 20, 2025

US government holds $36 billion in Bitcoin after largest confiscation in history

October 15, 2025
Add A Comment

Comments are closed.

Recent Posts

Stake USDT To Earn BTC With Up To 600% APR

October 28, 2025

Coinbase Acquires Echo, Leading On-Chain Capital Raising Platform in $375 Million Deal

October 28, 2025

US Bitcoin reports holdings of 3,865 BTC after recent acquisition

October 27, 2025

Swiss Bitcoin App Relai Acquires MiCA License In France

October 27, 2025

Tapzi Presale Gains Traction with DeepSnitch AI and Bitcoin Hyper

October 27, 2025

The first extension for Solana developers

October 27, 2025

River Public Sale – 48-Hour Dutch Auction Lowest Price Settlement, Claim And Refund Instantly After End

October 27, 2025

Jiuzi Holdings, Inc. Partners With SOLV Foundation On $2.8B TVL Bitcoin Initiative To Advance Crypto Treasury Strategy

October 27, 2025

Why Elon Musk’s SpaceX transferred $133 million in Bitcoin

October 27, 2025

Stablecoin payments reach $10 billion with mainstream adoption

October 26, 2025

Ethereum Rebounds from Bull Market Support: Can It Conquer the ‘Pocket of Gold’ Next?

October 26, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Stake USDT To Earn BTC With Up To 600% APR

October 28, 2025

Coinbase Acquires Echo, Leading On-Chain Capital Raising Platform in $375 Million Deal

October 28, 2025

US Bitcoin reports holdings of 3,865 BTC after recent acquisition

October 27, 2025
Most Popular

Top trader predicts Ethereum will significantly outperform Bitcoin, says one ‘golden child’ Memecoin will head higher

May 26, 2024

Diamante Net Takes the Stage as Official WebX 2024 Partner

August 24, 2024

bitcoind – Whitelist LAN connection prioritization

December 22, 2023
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.